SAINT FATEH SINGH CONVENT SCHOOL

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Clifford Jenkins
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1 SAINT FATEH SINGH CONVENT SCHOOL +1 ACCOUNTANCY TIME: 3 HOURS MM: 90 Section-A 1. Accounting standard 10 relates to? 2. What do you mean by bill of exchange? 3. Is trial balance a statement or an account? 4. What do you mean by double entry system? 5. What is an opening entry? 6. Give any three limitations of accounting? 7. Define the following terms in accounting? (a) Capital (b) voucher (c) bad debts 8. Prepare bank reconciliation statement from the following particulars on 31 st march 2017: (i) Debit balance as per bank column of cash book 3,72,000 (ii) cheques issued to creditors, but not yet presented to the bank for payment 72,000 (iii)dividend received by the bank,but not entered in the cash book 5,000 (iv) interest allowed by the bank 1250 (v)cheques deposited into bank for collection, but not collected by bank upto this date 15,400 (vi)bank charges 200 (vii) a cheque deposited into bank was dishonoured, but no intimation received 320 (viii) bank paid house tax on our behalf, but no information received from bank in this connection prepare the cash book with cash and bank columns from the following transactions: 2017 Jan 1. bank overdraft cash in hand 2,300

2 7. cheque received from suresh 4,000. Discount allowed cheque received from suresh deposited into bank 12. cheque paid to radha 2,500 and discount received suresh s cheque dishonoured 20. money withdrawn from bank for office use 3, fees of chidren paid by cheque cheque received from sita and endorsed it to heera on 27 th jan 4, bank charges paid into bank the entire amount after retaining 700 at office. 10.show the accounting equation on the basis of following transactions: (a)started business with cash 1,20,000 (b)rent received 10,000 (c)invested in shares 50,000 (d)received dividend 5,000 (e)purchased goods on credit from ragini 35,000 (f)paid cash for household expenses 7, journalise the following transaction (i)received 20,000 from subash, which were written off as bad-debts in the previous years. (ii)salaries due to clerks 50,000 (iii)out of the rent paid this year, 10,000 is related to next year. (iv)provide 10% depreciation on future costing 50,000 (v)provide 12% interest on capital amounting to 10,00,000. (vi)charge interest on drawings 8, birla cotton mills purchased a machinery on 1 st august,2009 for 90,000. On 1 st October, 2010 it purchased another machine for 40,000.

3 On 30 th june,2011 it sold off the first machine purchased in 2009 for 58,000 and on the same date purchased a new machine for 1,00,000. Depreciation is provided at 20% p.a. on the original cost each year. Accounts are closed each year on 31 st march. Show the machinery account for three years. 13.Enter the following transactions in the purchase book of pawan electronics store, New Delhi:- June 2 purchased goods from surya electronics store, on credit each 50 tabels 400 each each Trade discount 15% June 10 purchased goods from ravindra electronic co. patel nagar, on credit 120 dozen 80 per Dozen 20 water each Trade discount 10% 14.Explain the following terms: I. Full Disclosure ii.accrual concept iii. Conservatism Section-B 15.Which financial statements are included in final accounts? 16What is hardware? 17.Write any 3 differences between Receipts and Payment A/c and Income and Expenditure A/c. 18.Write any 3 advantages of computerized accounting system 19.Ascertain cost of goods sold from the following: Indirect expenses 15,200, direct expenses 18,600, sales 1,20,000, net purchases Closing inventory 28,000, opening inventory 16000

4 20.Prepare the specimen of balancesheet? 21.Show how you deal with the following items In the following items in the final account of a club: Sports Fund Sports Fund investment 35,000 Income from sports fund investment 4,000 Donation for sports fund 15,000 Sports prize awarded 10,000 Expenses on sports events 4, Receipts and Payments A/c of entertainment club showed that 68,500 were received by way of subscription for the year ended on march 31, subscription outstanding on march 31,2016 were 6, subscription received in advanced as on march 31,2016 were 4, subscription outstanding on march 31,2017 were subscription received in advanced as on march 31,2017 were 2, (a) What is a Not for profit organization? (b)how will you treat the following items in income and expenditure A/c and balancesheet Entrance fee, Life membership fee, Legecy 24. From the following trial balance, ypu are required to prepare Trading and Profit and Loss A/c for the year ending 31 st march,2017 and a Balance sheet as at that date: Particular Amount Particular Amount Opening stock Furniture Purchases Carriage inward Bad debts Wages Debtors Sales return Rent Miscellaneous exp. Salaries Cash 25,000 16,000 5,55,300 4,700 1,800 52,000 80,000 15,000 24,000 3,400 68,000 8,900 Capital Sales Creditors Bank overdraft Provision for bad debts Discount Purchase return 2,00,000 7,00,000 72,500 50, ,000

5 Drawings Building Advertising Interest on bank overdraft 14,000 1,60,000 10,000 7,000 Adjustments: 10,45,100 10,45,100 i.closing stock is valued at 36,000 ii.private purchases amounting to 5,000 have been debited to purchases account. iii.make a provision for bad and doubtful debts 5% on debtors. iv. A new sign board costing 4,000 is included in advertising v. Depreciate furniture and fittings by 10%.

SAINT FATEH SINGH CONVENT SCHOOL MAU MANDI

SAINT FATEH SINGH CONVENT SCHOOL MAU MANDI ACCOUNTANCY SET-A TIME :3 HOURS CLASS XI M.M: 90 General instructions Ques 1-3 carry 1 marks Ques 4-6 carry 3 marks Ques 7-9 carry 4 marks Ques 10-13 carry 6